Shiba Inu (cryptocurrency)

Shiba Inu token (ticker: SHIB) is a decentralized cryptocurrency created in August 2020 by an anonymous person or group using the pseudonym "Ryoshi".[1] It is inspired by the Shiba Inu (柴犬), a Japanese dog breed, which also serves as the mascot for Dogecoin, another cryptocurrency with meme origins. Some categorize Shiba Inu as a "meme coin"[2][3] There have also been concerns about the concentration of the coin with a single "whale" wallet controlling billions of dollars' worth of the token, and frenzied buying by retail investors motivated by fear of missing out (FOMO).[4]

Not to be confused with Dogecoin.

Shiba Inu
Shiba Inu logo
Denominations
CodeSHIB
Development
Original author(s)"Ryoshi"[1]
White paperShibu Inu Ecosystem
Initial releaseAugust 2020 (2020-08)[1]
Development statusActive
Website
Websiteshibatoken.com

    Shiba Inu was introduced with a branding that positioned it as a potential 'Dogecoin competitor'.[1] On 13 May 2021, Vitalik Buterin donated more than 50 trillion SHIB (worth over $1 billion at the time) to the India COVID-Crypto Relief Fund.[5]

    In October 2021, the market price of the cryptocurrency experienced a significant rise, reportedly increasing by 240% within a week.[6] However, at the beginning of November, it faced a decline, reportedly losing approximately 55% of its value by the end of the month.[7][8][9]

    See also

    References
    1. "What is the Shiba Inu ? Experts weigh in on the 'Dogecoin killer' hype". Fortune. Archived from the original on 2021-05-12. Retrieved 2021-05-13.
    2. Kaul, Abhinav (28 October 2021). "Experts say retail investors should stay away from 'War of Meme Coins'". Mint. Retrieved 1 November 2021.
    3. Scribner, Herb (5 October 2021). "Shiba Inu coin had another spike. But will it last?". Deseret News. Retrieved 1 November 2021.
    4. Regan, Michael P. (3 November 2021). "Shiba Wallet With Billions Is Scrutinized as Coin Tumbles". Bloomberg. Retrieved 7 November 2021.
    5. Vigna, Caitlin Ostroff and Paul (2021-05-13). "Ethereum Luminary Makes $1 Billion Covid-19 Gift—in Shiba Inu Token". Wall Street Journal. ISSN 0099-9660. Archived from the original on 2021-05-13. Retrieved 2021-05-13.
    6. "Shiba inu coin skyrockets after an Elon Musk tweet supercharges the token - taking weekly gains to 240%". www.yahoo.com. Archived from the original on 7 October 2021. Retrieved 6 October 2021.
    7. Yue, Frances (4 November 2021). "A major crypto exchange's CEO is set on holding Shiba Inu crypto long term despite its recent tumble. Here's why". Market Watch. Retrieved 7 November 2021.
    8. Denton, Jack (4 November 2021). "Shiba Inu Is Plunging. A Prominent Crypto Whale Is Making Waves". Barron's. Retrieved 7 November 2021.
    9. Maishera, Hassan (26 November 2021). "Shiba Inu Dips by 5% Despite Reaching 1 Million Holders". Yahoo! Sports UK. Retrieved 26 November 2021.
    This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.